New Jersey posts record gambling revenue of $5.8 billion

Finance News

New Jersey’s casino and sports betting operators and their online partners won nearly $5.8 billion in 2023, setting a new record, figures released Tuesday show. That’s up nearly 11% from a year earlier.

The numbers released by the New Jersey Division of Gaming Enforcement show that the casinos, three horse tracks that have sports betting, and their online partners won $5.77 billion last year, surpassing the state’s all-time high of $5.2 billion reached in 2006 and matched last year.

“New Jersey’s vision for a vibrant and competitive Atlantic City is coming to fruition after the addition of on-line gaming and sports wagering,” he said.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said the record-setting total revenue performance “would not have been possible without the contributions of new gaming products — internet gaming and sports wagering — which contributed nearly 46% of total gaming revenue for the year.”